Circular Edinburgh, managed by the Edinburgh Chamber of Commerce, is working to investigate the opportunities around the circular economy and the support on offer for business.
With the increasing pressures on finite materials, a circular economy provides an alternative to our current “take make dispose” approach. It looks to keep the flow of materials and products within the economy for as long as possible, extracting the maximum value from them whilst in use. It’s where businesses, industry and consumers work together to make things last.
The circular economy approach develops new business models, designs products more smartly, re-manufactures and reprocesses materials to create new products from old, and repairs what we can – It looks to sustainability, where everything has value and very little is wasted.
Scotland is well placed to develop a more circular economy. Businesses are already capitalising on the vast benefits of being circular, through new business models, through collaboration and by identifying and developing sustainable opportunities for innovation and increased profitability. This helps improve competitive advantage whilst addressing the issue of resource efficiency.
The First Minister announced at the Circular Hotspot in October, that “Edinburgh as the capital City could be at the heart of an estimated £1bn boom for circular economy businesses in Scotland.” The potential value to the local economy for Edinburgh is set out in a report commissioned by Zero Waste Scotland which highlights the economic opportunities unique to Scotland’s capital, including proposals to maximise the circular opportunities in Edinburgh’s huge festivals and hospitality market, and the Facilities Management sector. This report was produced with the assistance of the Edinburgh Chamber of commerce and written by an independent consultant Jacobs. Please follow the this link to read the report: ZWS CE Opportunities Edinburgh